Stuart Paterson, Chairman of Macfarlane Group PLC, today said:
“Macfarlane Group has performed well in the first half of 2018. Group sales of £102.0m, were 14% ahead of the comparable period last year and profit before tax of £3.5m, was 39% higher than in 2017. This strong performance in the first six months of 2018, supplemented by the expected seasonal uplift from the e-commerce sector in the second half of the year, gives the Board confidence that its full year expectations for 2018 will be achieved.
“Packaging Distribution grew its sales by 14% in the first half of 2018, with 5% achieved from organic growth and the remainder from the 2017 acquisition of Greenwoods, which is performing well. Gross margin in Packaging Distribution rose to 29.3%, (2017: 29.0%). Operating profit for the division at £3.7m was £1.0m ahead of 2017, an increase of 39% (…)”
To read the full statement, click here.